Charles S. Berkman Sells 7,206 Shares of OmniAb, Inc. (NASDAQ:OABI) Stock

OmniAb, Inc. (NASDAQ:OABI - Get Free Report) insider Charles S. Berkman sold 7,206 shares of the stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $2.00, for a total transaction of $14,412.00. Following the completion of the transaction, the insider now directly owns 363,212 shares of the company's stock, valued at approximately $726,424. The trade was a 1.95 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

OmniAb Stock Up 4.3 %

OABI traded up $0.08 during midday trading on Friday, hitting $1.93. 851,877 shares of the company were exchanged, compared to its average volume of 559,772. The firm's 50 day moving average price is $2.99 and its 200-day moving average price is $3.52. OmniAb, Inc. has a 1-year low of $1.81 and a 1-year high of $5.25. The firm has a market capitalization of $235.72 million, a P/E ratio of -3.11 and a beta of 0.06.

OmniAb (NASDAQ:OABI - Get Free Report) last announced its earnings results on Tuesday, March 18th. The company reported ($0.12) earnings per share for the quarter, topping analysts' consensus estimates of ($0.13) by $0.01. OmniAb had a negative net margin of 308.78% and a negative return on equity of 20.97%. The business had revenue of $10.80 million during the quarter, compared to the consensus estimate of $10.13 million. During the same quarter last year, the firm earned ($0.14) earnings per share. On average, sell-side analysts predict that OmniAb, Inc. will post -0.61 earnings per share for the current fiscal year.

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Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Royal Bank of Canada reduced their price objective on OmniAb from $7.00 to $4.00 and set an "outperform" rating on the stock in a research report on Thursday, March 27th. HC Wainwright restated a "buy" rating and set a $11.00 price target on shares of OmniAb in a report on Wednesday, March 19th. Finally, Benchmark dropped their price objective on shares of OmniAb from $8.00 to $6.00 and set a "buy" rating for the company in a report on Thursday, March 20th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of OABI. Hsbc Holdings PLC acquired a new position in shares of OmniAb during the fourth quarter valued at about $38,000. Choreo LLC bought a new stake in OmniAb in the 4th quarter valued at about $41,000. Rangeley Capital LLC acquired a new position in OmniAb during the 4th quarter worth approximately $41,000. KLP Kapitalforvaltning AS bought a new position in OmniAb in the fourth quarter worth approximately $49,000. Finally, Walleye Capital LLC acquired a new stake in OmniAb in the third quarter valued at approximately $61,000. 72.08% of the stock is owned by institutional investors.

OmniAb Company Profile

OmniAb, Inc, a biotechnology company, engages in the discovery and provision of therapeutic antibody discovery technologies in the United States. The company's technology platform creates and screens diverse antibody repertoires and identify optimal antibodies for partners' drug development efforts.